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Frequently asked questions

Below you will find answers to common questions our Clients have prior to enjoying our service.

How does it work?

We do our loans against security. Most people use their cars or if they have any items of value like jewellery or watches.

Who are you / Are you a bank?

We are registered company that does small loans between €1,000 and €10,000

If I use my car do you keep it or can I continue using it?

You continue using it as normal but you need to bring us the original registration certificate and a signed certified vehicle transfer form that we keep at our offices until the loan is paid up.

How long do I have before I have to pay off the loan?

Our loans are for a short period starting from 3 months to 6 months. If you pay your monthly installments on time, we can extend to 9 months or maximum 1 year.

How do I pay off the loan?

The company receives a monthly fee (installment) which is based on the loan amount.

You can pay off in 2 ways:

– either by paying the monthly fee (fixed amount) every month and when you are ready to settle you pay the

loan amount in one lump sum

– or by paying the monthly fee every month and adding an extra amount from €50 to €200 or more (based

on your financial situation that month). This extra amount will be deducted from the loan amount and the

following months fees (installment) will be based on the balance of your loan. This means that every month

both the loan amount and the loan fees are reduced and you can slowly pay off your loan without worrying

about paying off a large lump sum when the time comes for you to settle your loan.

Where are your offices?

Ayia Napa

Do you not have offices elsewhere in Cyprus?

No only in Ayia Napa. You will need to come to our offices only on the day that we sign the contracts and when you settle the loan (so that we can give you the orginal registration certificate and a vehicle transfer form).

Do I have to come to your offices to pay the monthly installment?

No, you can send the installment with any of the courier services (Akis Express, Travel Express or ACS) or you can make a deposit directly into our account (details given to you when we sign the contracts).

If I use my car as security how do you evaluate it?

You give us certain information about the car on the phone and we contact our associate who will give us a verbal estimate. Based on this estimate we will inform you if your car covers the amount you wish the borrow or if it doesn’t cover this amount, we will inform you what the maximum amount is that we can loan against your car value. You will also need to come to our offices with this car so that we can see it in person as some times the estimated value of the car is much higher than the actual condition of the car.

Do you do student loans?

No. We can only do loans for permanent residents of Cyprus.

Can I get a loan against personal cheques or my salary?

No. We only give loans against security with personal assets.

Can I use my household furniture / appliances as security?

No. We only accept cars or items of value like jewelry or watches.

Can I borrow only €500.

The minimum loan we do is for €1,000. You need to have an asset with a value of at least €3,000 that you can use as security against this amount?